hello and welcome to asia business report. i'm mariko oi. let's begin with the cost of living in the world's largest economy. inflation in the us has risen 3% in the year tojune, that's the lowest level in more than two years. the news has been cheered by financial markets which closed at their highest levels in over a year. investors are now feeling more confident the us economy may be able to avoid a recession. samira hussain reports from new york. the headline in these latest inflation numbers is that the cost of living in the united states is headed in the right direction. inflation rose 3% in the month ofjune, down a full percentage point from a month earlier, and it has fallen pretty sharply from its peak of more than 9% injune of last year.

it's a sign that the federal reserve�*s moves to raise interest rates to slow down inflation seems to be working, but analysts still think america's central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers, but it's also good news for us presidentjoe biden, who touted the administration's efforts to bring prices down. now, he is facing re—election next year and being able to control inflation without pushing the economy into a recession will be key if he wants another four years in the white house. samira hussain there. let's bring in the milken institute�*s chief economist, william lee, whojoins us now from nevada. that's the ultimate question that all the central banks around the world are asking them selves. has the us peaked? lots of prices and inflation decreases have come out because

supply chains have been restored around the world and consumers are able to get the stuff they want to buy. one of the things the fed is concerned with is that even though the headline numbers are down to 3%, way down from 9%, the court rate of inflation which is excluding the food and energy components is still high. nowhere near the 2% target. we have a good down payment but i think we have yet to see convincing evidence that the turn has actually arrived in a convincing way.— turn has actually arrived in a convincing way. what does that mean for the _ convincing way. what does that mean for the federal— convincing way. what does that mean for the federal reserve l mean for the federal reserve next move? we were expecting two more hikes. has this latest information data change that or not? i information data change that or not? ., �* ~' information data change that or not? ., �* ~ , , not? i don't think most members ofthe not? i don't think most members of the committee _ not? i don't think most members of the committee with _ not? i don't think most members of the committee with think - of the committee with think this is enough. there was said we have been there before and had locations where inflation turned on and don't like it was going correct but if humans later it was up again. the fed has convinced itself not only the trend is going in the right direction but all inflation,

including services. if anyone here has told you about the cost of car repairs or going to the dentist, you will see that we still have very high rates of inflation and very important parts of the economy and the fed will wait until it's convinced that we are close enough to 2% that it would stop tightening. it's earnings season once again for corporate america. and later today we're due to get the second quarter results from us carrier delta air lines. when borders re—opened post—covid, there was a surge in demand for revenge travel. and airlines saw a major leap in bookings. on the flip side — staff shortages have led to operational challenges. which resulted in flight delays and or cancellations, baggage handling issues, overcrowded terminals, just to name a few. let's bring in industry watcher pilar wolfsteller. she's the americas air transport editor at flightglobal. passenger numbers are over

pre—pandemic, we have millions of people who are as you mentioned earlier, engage in and what we call it revenge travel. that is travelling aggressively to make up for all that lost time. that we missed during the pandemic. it started last year and is continuing this year. the transportation security administration which does security screening and about a50 airports across the country has notched record numbers in the last few weeks. also, even higher than 2090 numbers. also, even higher than 2090 numbere— also, even higher than 2090 numbers. ~ , ., numbers. here in asia, some tourism spots _ numbers. here in asia, some tourism spots are _ numbers. here in asia, some tourism spots are struggling l tourism spots are struggling with staff searches because many of them had to let go of them during the pandemic, and american airlines are experiencing the same thing, aren't they?— aren't they? indeed. the airline and _ aren't they? indeed. the airline and projector- aren't they? indeed. the airline and projector and| airline and projector and airports, the ground had lynn, the security, all of those roads, they lost a lot of people through coronavirus and the aftermath. very experienced

pilots and air traffic ritual controllers retired so they're bringing in new people who don't have the experience i need to build up experience now as well. ~ need to build up experience now aswell. ~ , , as well. the imf probably -roved as well. the imf probably proved a _ as well. the imf probably proved a bailout - as well. the imf probably proved a bailout for - as well. the imf probably i proved a bailout for pakistan to help stabilise the economy why the regular rest of the funds will be peeled out in the next nine months. the deal is a lifeline to the country if 230 million people. pakistan had been facing a severe balance of payment crisis with only enough central bank reserves to help with barely a month of controlled imports. pakistan isn't alone in need imf assistance. as we told you on newsday, it's been a year since the former sri lankan president gotabaya rajapaksa fled the country. but, as bbc�*s archana shukla reports, many are still struggling to cope with higher prices.

this market was deserted in a year ago but is not abuzz with activity and businesses. there are shortages have eased in the country and few issues disappeared and bands are none etc imports like machines and auto parts have all been lifted, giving a boost to the important economy of sri lanka. my important economy of sri lanka. my conversations with people hear revealed that underneath this sense of normalcy, their lies and undercurrents of instability and worry. prices of everyday goods are still an issue. this coupled with lower wages have caused issues. last year, this man was on the verge of closing on his restaurant, one year later he still struggling. one year later he still struggling-—

one year later he still struggling. one year later he still stru~lin~. ., struggling. most of the skilled labour has _ struggling. most of the skilled labour has left _ struggling. most of the skilled labour has left the _ struggling. most of the skilled labour has left the country. i labour has left the country. during the crisis, i had ia shifts inside my kitchen, right now i only have two. i am running daily advertisement so i'm recruiting weekly. as a businessman i don't see a real future right now. in businessman i don't see a real future right now.— businessman i don't see a real future right now. in 2022, more than 300,000 _ future right now. in 2022, more than 300,000 left _ future right now. in 2022, more than 300,000 left the - future right now. in 2022, more than 300,000 left the country | than 300,000 left the country inward search of a better future, the highest migration in sri lankan history. the brain drain of the most skilled like doctors, staff, chef and it professors is leaving a critical gap that economists worry it will affect the countries economic recovery. the government says i am of support is helping stabilise the country. the present concern for the government is to finalise debt restructuring talks before that i am if a review in september. the government in schlenker is proposing its foreign lenders

take a 30% cut on the principal amount owed. get in the bilayer tour of the creditors, especially china, to agree on these terms will be crucial for sri lanka to get the next trench of the imf funding sri lanka to get the next trench of the imffunding in october. well sri lanka's financial struggle in recent years is not unique.. global public debt has surged to a record of more than $90 trillion last year. a un report released ahead of this weekend's meeting of g20 finance ministers says governments borrowed more to counter crises, such as the covid—i9 pandemic. it also notes that domestic and external debt worldwide has increased more than five times in the last two decades. un secretary—general antonio guterres told reporters "some of the poorest countries in the world are being forced into a choice between servicing their debt, or serving their people." hollywood is facing the possibility of its first

simultaneous strike by writers and actors in more than 60 years. the screen actors guild is currently taking part in last ditch talks with a federal mediator about contract negotiations with film and tv studios. without the actors you cannot film a going forward. if screen actors guild — film a going forward. if screen actors guild go _ film a going forward. if screen actors guild go on _ film a going forward. if screen actors guild go on strike - film a going forward. if screen actors guild go on strike they| actors guild go on strike they lose — actors guild go on strike they lose their— actors guild go on strike they lose their reality and game shows _ lose their reality and game shows and they would start to feel it — shows and they would start to feel it. right now they have stockpiled scripts and have things _ stockpiled scripts and have things in the pipeline, things they— things in the pipeline, things they think they can do without writers — they think they can do without writers. ., ~ , they think they can do without writers. . ~ , ., , they think they can do without writers. . ., , ., writers. frankly, actors are more powerful _ writers. frankly, actors are more powerful collectively | writers. frankly, actors are - more powerful collectively than writers — more powerful collectively than writers you _ more powerful collectively than writers you go— more powerful collectively than writers. you go to _ more powerful collectively than writers. you go to see - more powerful collectively than writers. you go to see the - writers. you go to see the movie _ writers. you go to see the movie because _ writers. you go to see the movie because of- writers. you go to see the movie because of your. writers. you go to see the - movie because of your favourite stars _ movie because of your favourite stars in — movie because of your favourite stars in it — now let's briefly turn to twitter because the social media company is being accused of failing to pay roughly

half—a—billion—dollars in severance owed to former staff. a former human resources boss, courtney mcmillian, made the claim in a class—action lawsuit. the complaint says twitter owner elon musk knew about the severance plan before he sacked thousands of staff. but it says he balked at the "expense". twitter, which no longer has a public relations department, did not comment. and that's it for this edition of asia business report. thanks for watching. bbc news bringing you different stories from across the uk. and it's my wedding day. i'm getting married, so i immediately want to have landed this skydive. no pressure. i served in afghanistan. unfortunately, i lost my left leg and received the gunshot and the right side of my body. the training for this started roughly 18 months ago, and most of that is being accuracy landings. the sky is a big place. you have a lot of room

for error in the sky. what really is crucially important is that you get the landings correct, that everybody�*s safe, the holding area as well. everybody�*s following each other and they should. all of them, including chris, have landed safely. i've just sky dived into my wedding at on a beautiful sunday morning. they hope they have a new world record for the largest wedding party made up of groom and groomsmen to skydive into a wedding venue. afterthat, it's time to get married. most stressful part of the day so far? no, i'm calm, cool and collected. jumping out of the plane was infinitely more stressful than this. i've been ready for this for a very long time. what do you think about him doing this? no. chris is allowed to have a little fancy thing in the day. i get the big fancy dress and he gets the fancy skydive. so i love it, though. i used to skydive and i'm just happy that he's happy doing it.

and as long as they're safe, they can do it whenever. more stories from across the uk. head to the bbc news website. hello. i'm jack with the catchup. we're going to start tonight with the news that the wife of the bbc, newsreader huw edwards, has named him as the presenter facing misconduct allegations. he was suspended by the bbc after the sun newspaper published claims that he paid a teenager for explicit images. well, a little earlier, the met police says there was no evidence of any criminality after looking at the sun's allegations. in a statement, his wife, vicki flynn, says huw is suffering from serious mental health issues and is now receiving in—patient hospital care. but once well enough to do so, he intends to respond to the stories that have been published. the bbc says it will now continue its own investigation. a couple of other stories for you then. we've been talking lots about the cost of owning your own home going up. and today the bank of england has done the maths and worked out that nearlyi million households will be paying

at least 500 more for their mortgages each month by the end of 2026. it all revolves around the rising cost of living. lots of info and advice on the bbc news app under the tackling it together section. and it's been a challenge for thousands of people trying to get tickets for taylor swift's era's tour. but for disabled fans trying to secure a place at wembley, it's been even tougher because accessibility places for the shows there aren't sold by ticketmaster online, so people need to call the venue directly leading to much longer waiting times. wembley stadium has told the bbc that demand has been unprecedented. of cuteness overload because a giant panda has given tonight, i'm going to leave you with ten seconds of cuteness overload because a giant panda has given birth to twins for the first time in south korea yesterday. the female babies were born just hours apart and they're tiny, weighing just under tiny, weighing just under 200 grams each. 200 grams each. both mum and babies both mum and babies are doing well. are doing well. you're all caught up now. you're all caught up now. see you later. see you later.

hello and welcome hello and welcome to sportsday — to sportsday — i meant mark edwards from the bbc sport centre. unstopable alcaraz. . .. in the battle of the next gen superstars its carlos alcaraz who sees off holge rune

for a place in the wimbledon semi finals.